Companies Act 2014

F322 [ Annual audit programme and activity report

930B.

930B. (1) The Supervisory Authority shall, not later than 6 months after the end of each financial year, prepare a report (in this Act referred to as the annual audit programme and activity report or AAPA report ) in accordance with this section on, amongst others, its oversight functions referred to in section 930A performed during that year.

(2) The AAPA report shall contain the following information:

(a) an activity report on the functions performed by the recognised accountancy bodies during the financial year to which the AAPA report relates;

(b) a work programme concerning the oversight functions referred to in section 930A that the Supervisory Authority proposes to perform during the financial year immediately following the financial year to which the AAPA report relates;

(c) an activity report regarding the functions of the Supervisory Authority under Regulation (EU) No 537/2014 during the financial year to which the AAPA report relates;

(d) a work programme regarding the functions of the Supervisory Authority under Regulation (EU) No 537/2014 that the Supervisory Authority proposes to perform during the financial year immediately following the financial year to which the AAPA report relates;

(e) a report for the financial year to which the AAPA report relates on the overall results of the quality assurance system required by section 1494(1) , including

(i) information on recommendations issued, follow-up on the recommendations, supervisory measures taken and relevant sanctions (including relevant sanctions within the meaning of section 957AA ) and public notices of relevant sanctions imposed (including public notices of relevant sanctions imposed within the meaning of section 957AA ), and

(ii) quantitative information and other key performance information on financial resources and staffing, and the efficiency and effectiveness of the quality assurance system.

(3) The Supervisory Authority shall cause the AAPA report to be published on its website not later than 6 months after the end of the financial year to which the report relates. ]

Annotations

Amendments:

F322

Inserted (21.09.2018) by Companies (Statutory Audits) Act 2018 (22/2018), s. 27, S.I. No. 366 of 2018.